right now it's not yet moving the markets if it's going to do that at all. >> michael, we were talking earlier that there are signals you see in this market which suggest a correction is coming. tell us what they are. is it the pattern we've seen this week? are some of the fundamentals behind it? in other words, that fight coming over the fiscal cliff related to the news that hampton was just give us. >> i think forget about looking at where the absolute price levels are for the s&p, the dow jones, et cetera. you have to look at what's happening within the market. after qe-3, something curious started occurring. the deflation trade started coming back. bond yields started dropping. utilities, health care, consumer staples, the bear trade, those are outperforming. small caps, which are very much domestically oriented, are weakening very, very much here. there's no real beta sentiment that's comfortable with taking risk. whether that's because of the fiscal cliff, i think that could explain what's happening here. underneath the surface, there's something very unusual, and i would borderl